Headlines
Swiss exports to US surge in September as pharma shipments rise ahead of tariff threat
Published by Global Banking and Finance Review
Posted on October 21, 2025
Editorial & Advertiser disclosure
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
ZURICH (Reuters) -Swiss exports to the United States rebounded sharply in September, with pharmaceutical companies ramping up their shipments to get ahead of potential U.S. tariffs, government data showed on Tuesday.
Total nominal Swiss exports to the United States leapt by nearly 43% last month in seasonally adjusted terms compared to the previous month, the figures showed.
Overall, Swiss exports were up 3.4% in September.
U.S. President Donald Trump imposed 39% tariffs on Switzerland in August, triggering a sharp drop in Swiss exports to the United States that month. Pharmaceutical companies were, however, exempted from the initial U.S. duties.
In late September, Trump said he would from October 1 impose a 100% tariff on imports of branded or patented pharmaceutical products, unless a pharmaceutical company is building a manufacturing plant in the United States.
Trump has not followed through on the threat as he presses pharma companies to lower U.S. drug prices.
Major Swiss pharma companies such as Roche and Novartis indicated they did not expect those U.S. measures to apply to them because of their expansion plans in the country.
Adjusted for seasonal swings, total Swiss exports of chemical and pharmaceutical products jumped in September by 5.1% in nominal terms compared to the previous month. That category accounts for more than half of all Swiss goods exports.
(Writing by Dave Graham, editing by John Revill)